PPL Corp Raises Price Target to $48 on Surging Data Center Demand
Jefferies raised PPL Corp.'s price target to $48.00, implying a 21.3% upside from current levels and following a 52-week high of $40.11. The company plans to invest $23 billion through 2029 to achieve 10.3% annual rate base growth, driven by 25.2 GW and 9.3 GW data center demand pipelines.
1. Analyst Upgrade and Price Target
Jefferies increased PPL Corp.'s price target to $48.00, up from $40.00, implying a 21.3% upside and reflecting a recent 52-week high stock price of $40.11.
2. Capital Expenditure Plan
PPL Corp. will invest $23 billion between 2026 and 2029 in its utility infrastructure, targeting an average annual rate base growth rate of 10.3%.
3. Data Center Demand as Growth Catalyst
The company anticipates data center electricity demand of 25.2 GW in Pennsylvania and 9.3 GW in Kentucky, underpinning its growth-focused capital spending.
4. Financial Forecasts and Earnings Outlook
Next-quarter earnings are projected at $0.63 per share, a 5% year-over-year increase, with revenue estimated at $2.62 billion, driven by expanded infrastructure capacity.